Weighted-Average Shares Outstanding

On January 1, 2020, Lincoln Company had 600,000 shares of $10 par common stock outstanding.During 2020, Lincoln had the following transactions that affected the common stock account.

March 1Issued 100,000 shares

May 1Issued a 20% stock dividend

July 1Acquired 60,000 shares of treasury stock

September 1Reissued 40,000 shares of treasury stock

November 1Issued a 2-for1 stock split

Instructions:

Compute the weighted-average number of common stock shares outstanding as of December 31, 2020.